Latest news with #Lookonchain
Yahoo
5 hours ago
- Business
- Yahoo
Satoshi-Era Whale Sells 9K BTC for Over $1B as Bitcoin Dips Below $117K
A bitcoin (BTC) whale holding more than 80,000 BTC sold a chunk their hoard following bitcoin's ascent to an all-time high around $123,000 on Monday. The user, who mined the cryptocurrency during the earliest days of the industry — a period known as the Satoshi era after the pseudonymous bitcoin creator — sold 9,000 BTC ($1 billion) via Galaxy Digital, Lookonchain posted on X. Users with particularly large amounts of BTC, known as whales, have the ability to move the market when they buy or sell bitcoin because of the substantial number of tokens involved. Satoshi-era bitcoin whales are closely monitored by traders for market signals, particularly when the BTC in their wallets has not moved for a number of years. The Satoshi era refers to a loose period of between 2009 and 2011 when bitcoin's pseudonymous creator, Satoshi Nakamoto, was active in the community and BTC was generally priced in cents. The world's largest cryptocurrency fell from Monday's high, dropping below $117,000. Such a slide is quite common following a surge as many users sell coins to bank some profits. Bitcoin was recently priced just above $117,000, around 4.55% lower than its peak.
Yahoo
5 hours ago
- Business
- Yahoo
Satoshi-Era Whale Sells 9K BTC for Over $1B as Bitcoin Dips Below $117K
A bitcoin (BTC) whale holding more than 80,000 BTC sold a chunk their hoard following bitcoin's ascent to an all-time high around $123,000 on Monday. The user, who mined the cryptocurrency during the earliest days of the industry — a period known as the Satoshi era after the pseudonymous bitcoin creator — sold 9,000 BTC ($1 billion) via Galaxy Digital, Lookonchain posted on X. Users with particularly large amounts of BTC, known as whales, have the ability to move the market when they buy or sell bitcoin because of the substantial number of tokens involved. Satoshi-era bitcoin whales are closely monitored by traders for market signals, particularly when the BTC in their wallets has not moved for a number of years. The Satoshi era refers to a loose period of between 2009 and 2011 when bitcoin's pseudonymous creator, Satoshi Nakamoto, was active in the community and BTC was generally priced in cents. The world's largest cryptocurrency fell from Monday's high, dropping below $117,000. Such a slide is quite common following a surge as many users sell coins to bank some profits. Bitcoin was recently priced just above $117,000, around 4.55% lower than its peak. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Hyperliquid Trader Fumbles $26M ETH Short Profit, Faces $716K Loss After Doubling Down
An ether (ETH) trader known only by their wallet address became the subject of on-chain attention after a massive short position flipped from deep unrealized profit to a loss in a matter of days. According to data from Lookonchain, wallet address 0xCB92 opened a 50,000 ETH short position on Hyperliquid, which at one point showed an unrealized profit of over $26 million. But rather than closing the transaction, the trader held on — even adding another 10,000 ETH to the short position even as the price rose. A short position is, in effect, a bet the price will fall. If it rises, the trader loses out. The decision turned out to be costly. As ETH surged, the position was stopped out, and Lookonchain reported the trader realized a loss of $716,000 as of Thursday. The position might have been a hedge against a long position as part of a broader strategy, though the tracked wallet held only a short position. The moves are reminiscent of infamous trader 'James Wynn,' whose on-chain antics drew eyes to Hyperliquid among mainstream circles. In May, Wynn built a record-setting $1.25 billion notional long position in bitcoin (BTC) at an average price of $108,243, only to see it collapse as the fell below $105,000 after U.S. President Donald Trump's tariff announcement on EU exports. Multiple liquidations, including a 527 BTC position worth over $55 million and a 421 BTC position worth nearly $44 million, wiped out more than $100 million of Wynn's holdings over a few days, leaving many wondering if they were witnessing a full-blown gambling addiction. Wynn has since not opened any trades similar to his May one. Wallet 0xCB92 may be the one stepping up to take the baton. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Another exchange hacked for $40M
Another exchange hacked for $40M originally appeared on TheStreet. The GMX crypto exchange got hacked for $41.9 million on July 9, the on-chain analytics platform Lookonchain posted on X. Launched in 2021, GMX is a decentralized spot and perpetual exchange that offers up to 100 times leverage in crypto trading. GMX confirmed on X that V1 on Arbitrum has suffered an exploit of approximately $40 million. The stolen funds have been transferred from the GLP pool to an unknown wallet, it added. The exchange said it has paused trading on GMX V1 and the minting and redeeming of GLP on both Arbitrum and Avalanche networks. It recommended users disable leverage, among other steps, to potentially mitigate the per the on-chain data on DeBank, the hacker still held $30.2 million on Arbitrum and bridged more than $11.6 million to Ethereum. PeckShieldAlert shared a message on X as per which the GMX developer seemed to acknowledge the exploit and offer a 10% white hat bounty to recover the stolen funds. No further legal action will be taken if the exchange succeeds in recovering 90% of the stolen funds within 48 hours, the message read. As per the on-chain analyst Arkham Intelligence, the hacker's wallet held $43.5 million at the time of writing. Among the cryptocurrencies the wallet holds are $10.5 million in Legacy Frax Dollar, $9.6 million in wrapped Bitcoin, $10.3 million in DAI, $5.8 million in wrapped Ethereum, $2.6 million in Ethereum, $2.2 million in USDC, and $1.3 million in USDT. An official followup announcement will be published once a full post-mortem has been done. When TheStreet Roundtable reached out to GMX on X for a comment on the development, the exchange's representative told us to wait for an official follow-up announcement to be published once a full postmortem has been done. Another exchange hacked for $40M first appeared on TheStreet on Jul 9, 2025 This story was originally reported by TheStreet on Jul 9, 2025, where it first appeared. Sign in to access your portfolio
Newsweek
07-07-2025
- Business
- Newsweek
Bitcoin Wallets Dormant for 14 Years Suddenly Active—and They're Worth Billions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A staggering $2 billion worth of Bitcoin has been reactivated after more than a decade of inactivity. The digital vaults, each holding 10,000 bitcoin, were reactivated on Thursday, July 3 and Friday, July 4, after lying untouched since 2011. The wallets, tagged as " and " moved their full balances to new addresses within 30 minutes of each other. The transfers—spotted by blockchain tracking services Whale Alert and Lookonchain—mark the first time the assets have been touched in 14 years. Read more Man in legal battle to recover $800 million bitcoin fortune from landfill Man in legal battle to recover $800 million bitcoin fortune from landfill Back in 2011, when Bitcoin traded at roughly $0.78 per coin, these wallets represented a modest investment of around $7,800 each. Today, thanks to a nearly 13,982,800 percent increase, the contents of each wallet are estimated at more than $1.1 billion—placing their owners squarely in the rarefied ranks of crypto's "whale" class. "In the early days of Bitcoin, there were quite a few early enthusiasts who mined BTC or bought it for a fraction of a dollar, but most of them either sold it much earlier—for millions instead of billions—or spent it on something trivial at the time, like the two pizzas famously bought for 10,000 bitcoins in 2010," Nic Puckrin, crypto analyst, investor and founder of The Coin Bureau, told Newsweek. A file photo of golden Bitcoins, representing the digital currency. A file photo of golden Bitcoins, representing the digital currency. Tevarak/Getty Images "Holding on to such a staggering amount requires either a great deal of foresight, when the asset is already soaring by many thousands, or a great deal of forgetfulness," he explained. Despite the digital trail, little is known about the wallets' owners. The sudden activity—on consecutive days, and involving identical sums—has led analysts to believe the wallets may be linked. With the wallets now valued at over $2 billion, the bitcoin represents a 140,000-fold return on the original investments. But cashing in isn't as easy as it may seem. "There's no such thing as payouts or dividends when it comes to Bitcoin—like gold, it's simply an asset that can be sold in exchange for its market value in a fiat currency," Puckrin explained. "As long as the person still has access to the private key to the wallet where the Bitcoin is held, which it seems they do if they moved it to a new address, they can sell this Bitcoin. However, given the amount, they would have to sell it very carefully, because disposing of this amount of Bitcoin all at once could crash the price." Nobody knows the identity of the Bitcoin owner or owners, but Puckrin explained it is unlikely that they will come forward. "It's highly unlikely this person will go public, especially considering the physical danger several prominent crypto figures have found themselves in lately from so-called 'wrench attacks,' such as David Balland, co-founder of cryptocurrency wallet firm Ledger, who was kidnapped with his wife in January," he said. "Apart from that, early adopters of Bitcoin tend to value privacy and anonymity, so there's no reason why they would want to reveal their identities to the world."
